ICBC's student loans are divided into national student loans and general commercial student loans, and there are certain differences in handling procedures. Let me introduce it to you.
government-subsidized student loans
1. The borrower needs to go to the school to get the application form, and then wait for the school to submit the loan application materials and the school's audit opinions to ICBC;
2. After the bank completes the loan approval, the borrower signs a loan contract at the bank's business outlets;
3. After completing all formalities, ICBC will directly transfer it to the account designated by the borrower's school according to the academic year, and the living expenses loan will be transferred to the personal settlement account designated by the borrower;
4. After graduation, the borrower can repay the loan in full and on time according to the loan contract.
General business student loan
1. The borrower goes to the business outlet of China Industrial and Commercial Bank, submits the application materials for general commercial student loans, and waits for the bank's review;
2. After the approval of the bank, the borrower goes to the bank to sign the loan contract and guarantee contract, and goes through the relevant notarization and mortgage registration procedures as required by ICBC;
After all the formalities are completed, the bank will give you loans in the form of transfer.
It is not difficult to see that the process of handling national student loans is much more complicated than that of general commercial student loans. The loan interest of national student loans is often subsidized by the state, and the interest will be much lower than that of general commercial student loans.